TransGlobe Energy’s (TGL) Sector Perform Rating Reiterated at Scotiabank
TransGlobe Energy Co. (TSE:TGL) (NYSE:TGA)‘s stock had its “sector perform” rating reaffirmed by research analysts at Scotiabank in a note issued to investors on Tuesday. They currently have a C$2.75 target price on the stock. Scotiabank’s target price suggests a potential upside of 37.50% from the stock’s current price.
TransGlobe Energy (TSE TGL) traded down 2.00% during trading on Tuesday, reaching $1.96. 421,295 shares of the company’s stock traded hands. The stock’s market capitalization is $141.52 million. The stock has a 50-day moving average price of $1.64 and a 200 day moving average price of $1.80. TransGlobe Energy has a 1-year low of $1.30 and a 1-year high of $2.83.
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In related news, insider Randy Neely acquired 35,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was bought at an average cost of C$1.45 per share, with a total value of C$50,750.00.
TransGlobe Energy Company Profile
TransGlobe Energy Corporation is an oil exploration and production company. The Company’s activities are concentrated in the Arab Republic of Egypt (Egypt). The Company conducts its operations through the Arab Republic of Egypt segment. The Company is primarily engaged in oil exploration, development, production and the acquisition of properties.
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